Q1:

The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following months sales. What is the budgeted units of production for January?

a.200,000

b.181,000

c.219,000

d.236,000

Q2:

The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following month's sales. What is the budgeted units of production for February?

a.174,000

b.222,000

c.186,000

d.181,000

Q3:

Woodpecker Co. has $295,000 in accounts receivable on January 1. Budgeted sales for January are $930,000. Woodpecker Co. expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% are expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are

$831,200

$1,334,000

$1,039,000

$623,400

Q4:

Consider Derek's budget information: materials to be used totals $65,800; direct labor totals $200,100; factory overhead totals $395,000; work in process inventory January 1, $186,900; and work in progress inventory on December 31, $196,600. What is the budgeted cost of goods manufactured for the year?

$847,800

$196,600

$660,900

$651,200

Q5:

For February, sales revenue is $604,000; sales commissions are 4% of sales; the sales manager's salary is $94,900; advertising expenses are $93,500; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2,500 plus 1/2 of 1% of sales. Total selling expenses for the month of February are

$227,140

$230,160

$190,900

$215,060